Recommend aap's full year 2011 sales on product-level totalled EUR 29.2 million (+6%) and Q4 sales increased by 9% to EUR 8.2 million press release

QrCode

What its a QR code?

Three steps: Scanning of a QR code: Find your way to a press release without typing. Use the QR code on the print version of a press release to get redirected to the corresponding page on PresseBox.

How does scanning a QR code work? Just follow these simple steps.

Everything you need is an internet-enabled mobile phone or smartphone with a built-in camera and a QR code reading software.

QR stands for Quick Response - with one step you can quickly reach a website. QR codes work like bar codes, which you can find on your milk carton, for example. A software decrypts the QR code and directs you to a web page - so you do not even need to know the web address to reach it.

aap's full year 2011 sales on product-level totalled EUR 29.2 million (+6%) and Q4 sales increased by 9% to EUR 8.2 million

(PresseBox)
(Berlin,
2012-01-13)
Preliminary figures indicate that aap Implantate AG, a medical technology company listed in the Frankfurt Stock Exchange's Prime Standard segment, achieved sales at product level of EUR 8.2 million (previous year: EUR 7.5 million) in the fourth quarter of 2011; this results in a 9% sales increase on the previous year's fourth quarter. In the financial year 2011, aap increased its sales on product-level by 6% compared to the previous year to EUR 29.2 million from EUR 27.5 million.

In the fourth quarter, sales were generated by the first major shipments of our innovative LOQTEQ® system to international customers. In addition, aap signed a bone cement development contract with a globally active orthopaedic company.

Due to two fundamental factors aap did not quite succeed in achieving its ambitious sales targets for the financial year 2011. For one, a major shipment of products from our cannulated screws segment to the United States was delayed in the fourth quarter. For another, developments in the orthopaedics segment did not live up to our expectations. Sales in this segment are on a par with the previous year.

2011 - Results and analysis

Overall sales in the financial year 2011 totalled EUR 29.2 million (previous year EUR 28.4 million), leading to 3% sales growth on the previous year. Product sales in the second half of 2011 were nearly 6% up on the first half at EUR 15.0 million.

aap's growth drivers in 2011 were its core business cement and cementing techniques as well as trauma. In Nijmegen the center of excellence for contract manufacturing also developed positively in 2011 and exceeded our expectations.

aap achieved the following further targets it had set itself in its management agenda for 2011. It boosted its business activities in the US market most successfully, increasing sales by over 30%. Contract manufacturing at the Nijmegen site also increased substantially: Over the past year Nijmegen has signed contracts with three new customers. The innovative LOQTEQ® product line was launched both nationally and internationally, generating national sales since the third quarter and its first international sales in the fourth quarter. The establishment of a uniform IT infrastructure across the group has been almost completed. Nearly all aap employees now work in an uniform IT environment.

2012 - Outlook

In the financial year 2012 aap will further optimize the areas customers, innovation, finance and organization, which are to be outlined in our 2012 Management Agenda. The Management Board anticipates sales growth at product level of 10% for 2012.

With a positive cash EBIT (EBIT excluding internally produced and capitalized assets and depreciation thereof) at product level, aap aims to finance its growth internally in 2012. The principles of profitable growth are also to be further applied in 2012 and the relative share of working capital as a proportion of sales is to be reduced. Another objective is to further improve aap's Freshness Index.

At the beginning of January, aap signed a letter of intend with the US sales specialist Bioscompass, Inc. on the sale of patent and related rights for the anti-adhesion product Adcon®. aap continues to be the product's manufacturer and supplier.

As part of its ongoing focus on the trauma and cement and cementing technique segments, aap is continuing to look into possibilities of additional product divestments.

aap plans to publish the full annual report for 2011 on March 30, 2012.

This release contains forward-looking statements based on current experience, estimates and projections of the management board and currently available information. They are not guarantees of future performance. Various known and unknown risks, uncertainties and other factors could lead to material differences between the actual future results, financial situation, development or performance of the company and the estimates given here. Many factors could cause the actual results, performance or achievements of aap to be materially different from those that may be expressed or implied by such statements. These factors include those discussed in aap's public reports. Forward-looking statements therefore speak only as of the date they are made. aap does not assume any obligation to update the forward-looking statements contained in this release or to conform them to future events or developments.

The press release is the responsibility of the indicated publisher. Press releases, photos, videos and any other multimedia assets are distributed by UNITED NEWS NETWORK (UNN) on behalf of its customers. UNN is not responsible for the content of its releases in any way. You are solely responsible for verifying the accuracy and completeness of any press release. The utilization of archived information is generally free of charge. It is furthermore your responsibility to determine if any permissions are necessary to use the press release content, by contacting its publisher. Please send a specimen copy to service@pressebox.com should you publish
Systematic saving of data and the usage of parts of the database are only allowed if you have a written form of consent by unn | UNITED NEWS NETWORK GmbH.

You can use the QR code at the beginning of a press release to return to the corresponding details page. You can find further information including software recommendations for your smartphone at https://www.pressebox.de/info/glossar/#7646!